Foreign Bank Account Reports (FBAR) and Voluntary Disclosure

I have been and will be speaking to several CPA firms as well as various California CPA Society groups regarding the tax problems that have been generated by the failure to file Foreign Bank Account Reports (FBARs), TD 90-22.1, and a possible solution through the Internal Revenue Service’s voluntary disclosure program. I have prepared an outline that I have distributed, entitled “FBARs and Voluntary Disclosure”, which is now available on my website. In addition to some of the topics that I have discussed in my blog, the outline references the issues that CPAs, and other non-tax attorneys face when their clients disclose the existence of offshore bank accounts because the information their clients provide is not privileged, and the non-tax lawyer can be forced to disclose these client confidences to the IRS.